I:5-49 Capital Losses. To better understand the rules for offsetting capital losses and how to treat capital losses carried forward, analyze the following data for an unmarried individual for the period 2019 through 2022. No capital loss carryforwards are included in the figures. For each year, determine AGI and the capital losses to be carried forward to a later tax year.

2019 2020 2021 2022 AGI (excluding property transactions) $40,000 $50,000 $60,000 $70,000 STCG 4,000 5,000 7,000 10,000 STCL 9,000 3,000 5,000 12,000 LTCG 6,000 10,000 2,200 6,000 LTCL 5,000 21,000 1,000 9,500 AGI (including property transactions)

STCL to be carried forward LTCL to be carried forward